Ingenico (Euronext: FR0000125346 - ING), leading worldwide provider of payment solutions, today announced its selection, with the Beninese microfinance institution Finada, for the first call for proposals by the Migration and Development Fund, an AfDB fund (African Development Bank) in partnership with the French government, the IFAD (International Fund for Agricultural Development) and the USAID (United States Agency for International Development).
Ingenico has developed a partnership with FINADA, a microfinance institution created in 2010, the aim of which is to promote financial services via new secure technology. The institution is looking to launch activities in Benin and other French-speaking African countries such as Togo or Mali, with the purpose of deploying similar solutions in the future for populations not currently using banking services.
Ingenico has provided a secure terminal and software solution, with biometric identification easing electronic transactions, deposits and withdrawals, payment of bills and refunds, money transfers and telephone top-ups. This project, a first in Benin, aims at progressively reaching a population of 2 million customers in the form of persons and legal entities with the deployment of Ingenico terminals in the major shopping centres, pharmacies, service stations, electricity and water board offices and in microfinance institutions. A specific software has been developed to meet the local regulations in effect.
The implementation of this programme, which includes the acquisition of software applications and equipment, their configuration and securing, should last until the year 2014. Prior to this, FINADA had to negotiate with operators to stabilise its GPRS connections. The Ingenico terminal selected for this programme is the EFT930G Bio.
By offering biometrically secure "branchless banking" in developing countries, Ingenico is proud to support financial inclusion projects to help improve living conditions for the entire population", highlighted Jacques Behr, EVP Ingenico EEMEA.